"We realize this could not have happened at a more inconvenient time with the holiday season upon us," Chase, the largest bank in the United States, told its customers on its website. "We are taking these precautions to combat fraud and prevent criminals from using Chase cards."

Reuters reports that about 2 million accounts are expected to be affected by the limits.

Meanwhile, Target announced that it was offering 10 percent off for people who shop at the store on Saturday and Sunday. The company also said it would be offering "free credit monitoring services," but it has not provided details on what that means.